Credit rating agency Standard and Poor’s (S&P) confirmed A rating issuer credit rating for Banco Santander-Chile

Rhea-AI Summary

Santander-Chile's issuer credit rating has been confirmed at A by Standard & Poor's, with a negative outlook. The bank maintains a dominant position in Chile's commercial banking sector and shows strong profitability and asset quality metrics. Capitalization levels are aligned with its business strategy. The bank’s stability is expected to help it withstand challenging economic conditions. Additionally, Santander-Chile has actively promoted sustainable projects, enhancing its ESG profile.

Positive

• Maintained issuer credit rating of A.
• Dominant market position in Chilean banking.
• Strong profitability and asset quality metrics.
• Capitalization metrics aligned with business strategy.
• Active promotion of sustainable projects.

Negative

• Issuer credit rating carries a negative outlook.

SANTIAGO, Chile, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Standard & Poor’s confirmed yesterday Santander-Chile’s issuer credit rating at A, maintaining a negative outlook. The report highlights Santander-Chile’s dominant market position in the Chilean commercial banking and retail sectors, and high systemic importance in the Chilean financial system. The Bank has also shown healthy profitability metrics and asset quality metrics, as well as capitalization metrics commensurate with its business strategy. The sound position and stability of Santander-Chile in the financial system should help weather the impact of these  challenging economic conditions.

The report also highlights ESG (Environmental, Social, Governance) factors, citing that Santander-Chile has been very active in promoting the development of sustainable projects (such as renewable energy projects) and finance.

Banco Santander-Chile
Issuer Credit Rating	A/Negative/A-1
Commercial Paper
Foreign Currency	A-1
Senior Unsecured	A
Subordinated	A-

CONTACT INFORMATION
Robert Moreno
Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Tel: (562) 2320-8284
Email: irelations@santander.cl
Website: www.santander.cl

FAQ

What is Santander-Chile's current credit rating?

Santander-Chile's issuer credit rating is confirmed at A.

What is the outlook for Santander-Chile's credit rating?

The outlook for Santander-Chile's credit rating is negative.

How does Santander-Chile rank in the Chilean banking sector?

Santander-Chile holds a dominant market position in the Chilean commercial banking and retail sectors.

What are Santander-Chile's strengths according to the latest report?

Santander-Chile demonstrates strong profitability, asset quality, and capitalization metrics.

Is Santander-Chile involved in sustainable projects?

Yes, Santander-Chile is actively promoting renewable energy projects as part of its ESG commitment.